Market Insights Advertising & Media Media

Games - Worldwide

Worldwide

Revenue in the Games market worldwide is projected to reach €435.90bn in 2024.
Revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 7.63%, leading to a projected market volume of €629.50bn by 2029.
In a global context, the majority of revenue will be generated United States, which is expected to account for €117,600.00m in 2024.
Within the Games market, the number of users is anticipated to reach 3.0bn users by 2029.
User penetration is forecasted to be 33.3% in 2024 and is projected to increase to 37.5% by 2029.
The average revenue per user (ARPU) is expected to be €749.10.
The global Games in the Media market is increasingly embracing immersive technologies, with countries like the United States leading in innovative gaming experiences.

Key regions: United Kingdom, Germany, India, United States, South Korea

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Analyst Opinion

The Games market in Worldwide continues to experience significant growth, driven by various factors such as changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Games market have shifted towards more immersive and interactive gaming experiences. Gamers are increasingly seeking games that offer realistic graphics, engaging storylines, and multiplayer capabilities. This has led to the rise in popularity of virtual reality (VR) and augmented reality (AR) games, as well as online multiplayer games. Additionally, there is a growing demand for mobile gaming, as more people are using smartphones and tablets as their primary gaming devices. Trends in the market indicate that the Games industry is becoming more globalized and interconnected. Game developers are increasingly targeting international markets, resulting in the localization of games in different languages and cultural adaptations. This trend is evident in the rise of games that incorporate elements from various cultures, as well as the popularity of esports, which attract players and viewers from around the world. Furthermore, the Games market is witnessing a shift towards digital distribution, with more players opting to download games rather than purchasing physical copies. Local special circumstances play a crucial role in shaping the Games market in different regions. For example, in countries with a large population of young gamers, such as India and China, there is a high demand for affordable gaming options. This has led to the popularity of mobile gaming and the rise of local game developers catering to the specific needs and preferences of these markets. In contrast, in regions with a strong gaming culture, such as Japan and South Korea, there is a preference for console and PC gaming, as well as a thriving esports scene. Underlying macroeconomic factors also contribute to the development of the Games market in Worldwide. Economic growth and rising disposable incomes have increased consumers' purchasing power, allowing them to spend more on gaming. Additionally, advancements in technology have made gaming more accessible and affordable, leading to a larger player base. Furthermore, the COVID-19 pandemic has had a significant impact on the Games market, as lockdowns and social distancing measures have led to an increase in gaming as a form of entertainment and social interaction. In conclusion, the Games market in Worldwide is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As the market continues to evolve, it is important for game developers and industry players to adapt to these trends and cater to the diverse needs and preferences of gamers around the world.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Games market, which is divided into Physically Sold Video Games and Digital Video Games. Physically Sold Video Games comprises revenues associated with in-person purchases of video games in retail stores. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.